Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 21 - 30 of 950 results for "SOA"

High rates impacting REITs: Quay

CHLOE WALKER  |  FRIDAY, 11 AUG 2023
Expectations of a global recession caused by an unprecedented interest rate increase has seen sentiment towards listed global real estate soar, according to Quay Global Investors (Quay) principal and portfolio manager Justin Blaess. While the listed ...

Mortgage holders, retailers relax after rate pause

KARREN VERGARA  |  WEDNESDAY, 2 AUG 2023
Mortgage holders and retailers breathed a resounding sigh of relief when the Reserve Bank of Australia (RBA) steadied the cash rate for the second month in a row. In leaving the base rate at 4.1%, the RBA signalled that its monetary policy strategy ...

RBA sustains cash rate at 4.1%

KARREN VERGARA  |  TUESDAY, 1 AUG 2023
The Reserve Bank of Australia (RBA) left the cash rate unchanged again at 4.1% but warns that more hikes are necessary to tame inflation. Outgoing governor Philip Lowe said Australia's central bank remains "resolute in its determination to return ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
Financial advice firms are "problematically" sidestepping compensation payments after the Australian Financial Complaints Authority (AFCA) hands down a decision, using the excuse that they do not have professional indemnity insurance (PII). Out of 5400 ...

Advice firm revenues jump 45%

KARREN VERGARA  |  WEDNESDAY, 12 JUL 2023
... constructing a strategy paper for a new client now takes four hours. Two years ago, it took 5.6 hours. A basic Statement of Advice (SoA) for a new client took 8.1 hours but now takes 6.7 hours. For complex new clients, an adviser spent 14.6 hours on ...

FSCP hands down second order, audits adviser

KARREN VERGARA  |  WEDNESDAY, 28 JUN 2023
... consider the client's life, TPD and income protection policy in the prior super fund when recommending the switch in the SoA. Furthermore, Mr. M recommended a high-growth investment portfolio in the new super fund despite the client's growth ...

Anti-hawking laws could dampen super fund advice: Academic

KARREN VERGARA  |  TUESDAY, 27 JUN 2023
... suggestion is that financial institutions including superannuation trustees should be permitted to offer all advice and that the SoA requirements be reduced," he said. "Their advice should however be "good advice" - or presumably they should pay customers ...

Advisers embrace less back-office burden

KARREN VERGARA  |  FRIDAY, 23 JUN 2023
... disclosure documents into one form achieves that goal without taking away from our responsibilities to clients," she said. The SoA, Pham said, is designed to protect consumers but can "lead to information overload" for clients and often adds to the time ...

Treasury to scrap advice admin burdens, boosts intra-fund advice

KARREN VERGARA  |  TUESDAY, 13 JUN 2023
... as a wholesale or sophisticated client (accepted in principle as per Recommendation 11). More details about the replacement SoA and the Financial Adviser Code of Ethics will be released in due course. As for conflicted remuneration, Jones accepted many ...

Adviser numbers drop, FAAA strengthens recruitment

KARREN VERGARA  |  MONDAY, 15 MAY 2023
As adviser numbers drop below 16,000, the Financial Advice Association Australia (FAAA) is ramping up its initiatives to curb the attrition rate and meet the soaring demand for advice. The FAAA's chief executive Sarah Abood, who spoke at the newly merged ...